I am recommending we spend some cash to roll the short leg of our VanEck Vectors Semiconductor ETF (SMH) LEAP call spread to a higher strike with the goal of capturing more potential appreciation.
Note: No action is needed on the SMH Jan 2023 (1/20/23) 250 Call at this time.
Current Stock Price: $274.57
Cost Basis: $59.65
- Buy to close the SMH Mar Week Four (3/25) 260 Call for around $14.65
- Sell to open the SMH Apr Week Two (4/8) 265 Call for around $13.75
- Set initial debit limit at $0.90, but adjust as needed to roll today
New Cost Basis: $60.55